This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the development of pharmaceuticals and agrochemicals. Its unique bicyclic structure makes it a valuable intermediate in the production of biologically active compounds. It is often employed in asymmetric synthesis to create chiral molecules, which are crucial in drug development due to their specific interactions with biological targets. Additionally, it serves as a building block in the creation of natural product analogs, contributing to research in medicinal chemistry and the discovery of new therapeutic agents. Its application extends to the study of enzyme inhibitors and receptor modulators, where its structural features enhance binding affinity and selectivity.